The Descartes Systems Group Inc. (NASDAQ:DSGX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $103.1667.

DSGX has been the topic of several analyst reports. Loop Capital reaffirmed a “buy” rating and issued a $96.00 target price on shares of The Descartes Systems Group in a report on Thursday, June 4th. Zacks Research lowered shares of The Descartes Systems Group from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings lowered shares of The Descartes Systems Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Canaccord Genuity Group lowered their target price on shares of The Descartes Systems Group from $110.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce upped their target price on shares of The Descartes Systems Group from $116.00 to $118.00 and gave the stock an “outperformer” rating in a report on Thursday, June 4th.

Institutional Investors Weigh In On The Descartes Systems Group

Several large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in The Descartes Systems Group during the 3rd quarter worth about $27,000. Danske Bank A S bought a new stake in The Descartes Systems Group during the 3rd quarter worth about $34,000. EverSource Wealth Advisors LLC grew its holdings in The Descartes Systems Group by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 548 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in The Descartes Systems Group during the 3rd quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in The Descartes Systems Group by 267.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the technology company’s stock worth $52,000 after acquiring an additional 401 shares during the last quarter. Institutional investors own 77.73% of the company’s stock.

The Descartes Systems Group Stock Performance

Shares of DSGX stock opened at $75.24 on Thursday. The firm has a fifty day moving average of $71.60 and a 200-day moving average of $76.18. The Descartes Systems Group has a 52-week low of $62.56 and a 52-week high of $109.00. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 37.62 and a beta of 0.64.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The Descartes Systems Group had a net margin of 23.35% and a return on equity of 11.17%. The business had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts predict that The Descartes Systems Group will post 2.61 earnings per share for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.